Northeast Analytical acquired by Minneapolis firm

Schenectady-based Northeast Analytical Inc., an environmental testing laboratory that has worked on the Hudson River dredging program and the World Trade Center test and clean program after 9/11, has been acquired by Pace Analytical Services of Minneapolis, the nation’s second largest environmental testing company. Details of the purchase weren’t revealed.

The deal received the approval of the Schenectady Industrial Development Agency, which approved an exemption from the mortgage recording tax and sales tax on future building improvements to Pace. It also approved the assumption by the new owners of the existing payment in lieu of taxes agreement, which is in the 12th year of a 15-year term, making a tax payment on 80 percent of the building’s assessed value. That will rise by 5 percent each year, to full value in 2014.

Pace said it will keep the facility at its current location, 2190 Technology Drive in the Tech Drive Business Park, and that it plans to add 20 jobs over the next two years. Northeast currently has 43 employees. The purchase is expected to be completed by the end of October.